Market Overview:
The global low voltage AC drive market is expected to grow at a CAGR of 6.5% during the forecast period from 2018 to 2030. The market growth can be attributed to the increasing demand for energy-efficient and reliable drives across various industries. Low voltage AC drives are used in a wide range of applications such as pulp & paper, metals, mining, chemical, and others. In terms of type, the market is segmented into voltage source inverter (VSI) and current source inverter (CSI). The VSI segment is expected to hold a larger share of the market during the forecast period owing to its advantages over CSI in terms of efficiency and reliability.
Product Definition:
A low voltage AC drive is a device used to control the speed of an electric motor. It does this by converting the standard AC power from the grid into DC, then back into AC with a variable frequency. This allows for more precise control of the motor than would be possible with a standard on/off switch. Low voltage AC drives are important because they allow for greater efficiency and precision in many industrial applications.
Voltage Source Inverter (VSI):
Voltage source inverter (VSI) is a power electronic device used to convert the low voltage AC from grid to high voltage DC for driving electric equipment. It’s an essential part of any battery-powered system as it ensures efficient and effective operation of the entire system. The growing demand for clean energy, rapid industrialization & urbanization, and increasing need for reliable power transmission are expected to drive market growth over the forecast period.
Current Source Inverter (CSI):
Current source inverter (CSI) is a type of electronic equipment that produces an alternate current from the main AC supply. It has two major functions, namely to boost low voltage DC power and convert it into high voltage AC power. The secondary side of the device consists of diodes and transistors that allow current flow in one direction only.
Application Insights:
The pulp and paper application segment led the global low voltage AC drive market in 2017. The segment is projected to expand at a CAGR of XX% over the forecast period owing to rising demand for electronic papers from various end-use industries including advertising, retailing, publishing, and packaging among others.
Low power consumption enables energy conservation as well as reduces environmental impact by reducing carbon emissions from conventional power plants. These factors are anticipated to promote product adoption across numerous applications including data centers, commercial offices, educational institutions and hospitals among others during the study period.
The metal mining application segment accounted for a significant share in 2017 owing to increasing demand for metals such as aluminum (Al), copper (Cu) lead (Pb) zinc (Zn), silver (Ag) iron manganese(Mn),and nickel(Ni).
Regional Analysis:
Asia Pacific is expected to be the fastest-growing regional market with a CAGR of XX% from 2018 to 2030 owing to rapid industrialization and increasing demand for energy-efficient products in countries, such as China and India. Furthermore, rising investments in pulp & paper industry are projected to drive the global low voltage AC drive market growth over the forecast period.
Europe was valued at USD X million in 2017 and is anticipated to witness steady growth over the forecast period owing high product adoption across end-use industries especially manufacturing sector of Germany, France, Italy, U.K., etc.). Moreover, growing demand for power factor correction across various applications will further propel regional market development during the forecast years from 2018 till 2030 (VSI: 16; CSI: 17).
The North America region accounted for more than 25% revenue share in 2017 on account of technological advancements coupled with increased penetration of renewable energy sources across several countries including Canada.
Growth Factors:
- Increasing demand for energy-efficient solutions: The global market for low voltage AC drives is expected to grow at a CAGR of more than 7% from 2016 to 2020. This growth can be attributed to the increasing demand for energy-efficient solutions across various industries.
- Rising industrial automation: Low voltage AC drives are extensively used in industrial automation applications owing to their ability to provide accurate and consistent control over motor speed and torque. This is driving the growth of the global low voltage AC drive market.
- Growing popularity of renewable energy sources: Renewable energy sources such as wind and solar are becoming increasingly popular due to their environmental benefits, which is boosting the adoption of low voltage AC drives across various industries worldwide.
- Technological advancements: The development of new technologies that improve the performance and efficiency of low voltage AC drives is aiding in the growth of this market globally . For instance, recent advancements in vector control technology have helped reduce power consumption by up to 30%.5
Scope Of The Report
Report Attributes
Report Details
Report Title
Low Voltage AC Drive Market Research Report
By Type
Voltage Source Inverter (VSI), Current Source Inverter (CSI)
By Application
Pulp & Paper, Metals, Mining, Chemical, Others
By Companies
Fuji Electric, ABB, Rockwell Automation, Tmeic, Schneider Electric
Regions Covered
North America, Europe, APAC, Latin America, MEA
Base Year
2021
Historical Year
2019 to 2020 (Data from 2010 can be provided as per availability)
Forecast Year
2030
Number of Pages
249
Number of Tables & Figures
175
Customization Available
Yes, the report can be customized as per your need.
Global Low Voltage AC Drive Market Report Segments:
The global Low Voltage AC Drive market is segmented on the basis of:
Types
Voltage Source Inverter (VSI), Current Source Inverter (CSI)
The product segment provides information about the market share of each product and the respective CAGR during the forecast period. It lays out information about the product pricing parameters, trends, and profits that provides in-depth insights of the market. Furthermore, it discusses latest product developments & innovation in the market.
Applications
Pulp & Paper, Metals, Mining, Chemical, Others
The application segment fragments various applications of the product and provides information on the market share and growth rate of each application segment. It discusses the potential future applications of the products and driving and restraining factors of each application segment.
Some of the companies that are profiled in this report are:
- Fuji Electric
- ABB
- Rockwell Automation
- Tmeic
- Schneider Electric
Highlights of The Low Voltage AC Drive Market Report:
- The market structure and projections for the coming years.
- Drivers, restraints, opportunities, and current trends of market.
- Historical data and forecast.
- Estimations for the forecast period 2030.
- Developments and trends in the market.
- By Type:
- Voltage Source Inverter (VSI)
- Current Source Inverter (CSI)
- By Application:
- Pulp & Paper
- Metals
- Mining
- Chemical
- Others
- Market scenario by region, sub-region, and country.
- Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
- Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
- Government Policies, Macro & Micro economic factors are also included in the report.
We have studied the Low Voltage AC Drive Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2030.
Regional Analysis
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- Latin America
Note: A country of choice can be added in the report at no extra cost. If more than one country needs to be added, the research quote will vary accordingly.
The geographical analysis part of the report provides information about the product sales in terms of volume and revenue in regions. It lays out potential opportunities for the new entrants, emerging players, and major players in the region. The regional analysis is done after considering the socio-economic factors and government regulations of the countries in the regions.
How you may use our products:
- Correctly Positioning New Products
- Market Entry Strategies
- Business Expansion Strategies
- Consumer Insights
- Understanding Competition Scenario
- Product & Brand Management
- Channel & Customer Management
- Identifying Appropriate Advertising Appeals
8 Reasons to Buy This Report
- Includes a Chapter on the Impact of COVID-19 Pandemic On the Market
- Report Prepared After Conducting Interviews with Industry Experts & Top Designates of the Companies in the Market
- Implemented Robust Methodology to Prepare the Report
- Includes Graphs, Statistics, Flowcharts, and Infographics to Save Time
- Industry Growth Insights Provides 24/5 Assistance Regarding the Doubts in the Report
- Provides Information About the Top-winning Strategies Implemented by Industry Players.
- In-depth Insights On the Market Drivers, Restraints, Opportunities, and Threats
- Customization of the Report Available
Frequently Asked Questions?
Low voltage AC drive is a type of electric motor that uses electricity at a lower voltage than standard AC motors. This allows the motor to run more quietly and with less heat, which makes it ideal for applications where noise or heat levels are important considerations.
Some of the major companies in the low voltage ac drive market are Fuji Electric, ABB, Rockwell Automation, Tmeic, Schneider Electric.
The low voltage ac drive market is expected to register a CAGR of 6.5%.
Chapter 1 Executive Summary
Chapter 2 Assumptions and Acronyms Used
Chapter 3 Research Methodology
Chapter 4 Low Voltage AC Drive Market Overview
4.1 Introduction
4.1.1 Market Taxonomy
4.1.2 Market Definition
4.1.3 Macro-Economic Factors Impacting the Market Growth
4.2 Low Voltage AC Drive Market Dynamics
4.2.1 Market Drivers
4.2.2 Market Restraints
4.2.3 Market Opportunity
4.3 Low Voltage AC Drive Market - Supply Chain Analysis
4.3.1 List of Key Suppliers
4.3.2 List of Key Distributors
4.3.3 List of Key Consumers
4.4 Key Forces Shaping the Low Voltage AC Drive Market
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Buyers
4.4.3 Threat of Substitution
4.4.4 Threat of New Entrants
4.4.5 Competitive Rivalry
4.5 Global Low Voltage AC Drive Market Size & Forecast, 2020-2028
4.5.1 Low Voltage AC Drive Market Size and Y-o-Y Growth
4.5.2 Low Voltage AC Drive Market Absolute $ Opportunity
Chapter 5 Global Market Analysis and Forecast by Type
5.1 Introduction
5.1.1 Key Market Trends & Growth Opportunities by Type
5.1.2 Basis Point Share (BPS) Analysis by Type
5.1.3 Absolute $ Opportunity Assessment by Type
5.2 Market Size Forecast by Type
5.2.1 Voltage Source Inverter (VSI)
5.2.2 Current Source Inverter (CSI)
5.3 Market Attractiveness Analysis by Type
Chapter 6 Global Market Analysis and Forecast by Applications
6.1 Introduction
6.1.1 Key Market Trends & Growth Opportunities by Applications
6.1.2 Basis Point Share (BPS) Analysis by Applications
6.1.3 Absolute $ Opportunity Assessment by Applications
6.2 Market Size Forecast by Applications
6.2.1 Pulp & Paper
6.2.2 Metals
6.2.3 Mining
6.2.4 Chemical
6.2.5 Others
6.3 Market Attractiveness Analysis by Applications
Chapter 7 Global Low Voltage AC Drive Market Analysis and Forecast by Region
7.1 Introduction
7.1.1 Key Market Trends & Growth Opportunities by Region
7.1.2 Basis Point Share (BPS) Analysis by Region
7.1.3 Absolute $ Opportunity Assessment by Region
7.2 Low Voltage AC Drive Market Size Forecast by Region
7.2.1 North America
7.2.2 Europe
7.2.3 Asia Pacific
7.2.4 Latin America
7.2.5 Middle East & Africa (MEA)
7.3 Market Attractiveness Analysis by Region
Chapter 8 Coronavirus Disease (COVID-19) Impact
8.1 Introduction
8.2 Current & Future Impact Analysis
8.3 Economic Impact Analysis
8.4 Government Policies
8.5 Investment Scenario
Chapter 9 North America Analysis and Forecast
9.1 Introduction
9.2 North America Market Size Forecast by Country
9.2.1 U.S.
9.2.2 Canada
9.3 Basis Point Share (BPS) Analysis by Country
9.4 Absolute $ Opportunity Assessment by Country
9.5 Market Attractiveness Analysis by Country
9.6 North America Market Size Forecast by Type
9.6.1 Voltage Source Inverter (VSI)
9.6.2 Current Source Inverter (CSI)
9.7 Basis Point Share (BPS) Analysis by Type
9.8 Absolute $ Opportunity Assessment by Type
9.9 Market Attractiveness Analysis by Type
9.10 North America Market Size Forecast by Applications
9.10.1 Pulp & Paper
9.10.2 Metals
9.10.3 Mining
9.10.4 Chemical
9.10.5 Others
9.11 Basis Point Share (BPS) Analysis by Applications
9.12 Absolute $ Opportunity Assessment by Applications
9.13 Market Attractiveness Analysis by Applications
Chapter 10 Europe Analysis and Forecast
10.1 Introduction
10.2 Europe Market Size Forecast by Country
10.2.1 Germany
10.2.2 France
10.2.3 Italy
10.2.4 U.K.
10.2.5 Spain
10.2.6 Russia
10.2.7 Rest of Europe
10.3 Basis Point Share (BPS) Analysis by Country
10.4 Absolute $ Opportunity Assessment by Country
10.5 Market Attractiveness Analysis by Country
10.6 Europe Market Size Forecast by Type
10.6.1 Voltage Source Inverter (VSI)
10.6.2 Current Source Inverter (CSI)
10.7 Basis Point Share (BPS) Analysis by Type
10.8 Absolute $ Opportunity Assessment by Type
10.9 Market Attractiveness Analysis by Type
10.10 Europe Market Size Forecast by Applications
10.10.1 Pulp & Paper
10.10.2 Metals
10.10.3 Mining
10.10.4 Chemical
10.10.5 Others
10.11 Basis Point Share (BPS) Analysis by Applications
10.12 Absolute $ Opportunity Assessment by Applications
10.13 Market Attractiveness Analysis by Applications
Chapter 11 Asia Pacific Analysis and Forecast
11.1 Introduction
11.2 Asia Pacific Market Size Forecast by Country
11.2.1 China
11.2.2 Japan
11.2.3 South Korea
11.2.4 India
11.2.5 Australia
11.2.6 South East Asia (SEA)
11.2.7 Rest of Asia Pacific (APAC)
11.3 Basis Point Share (BPS) Analysis by Country
11.4 Absolute $ Opportunity Assessment by Country
11.5 Market Attractiveness Analysis by Country
11.6 Asia Pacific Market Size Forecast by Type
11.6.1 Voltage Source Inverter (VSI)
11.6.2 Current Source Inverter (CSI)
11.7 Basis Point Share (BPS) Analysis by Type
11.8 Absolute $ Opportunity Assessment by Type
11.9 Market Attractiveness Analysis by Type
11.10 Asia Pacific Market Size Forecast by Applications
11.10.1 Pulp & Paper
11.10.2 Metals
11.10.3 Mining
11.10.4 Chemical
11.10.5 Others
11.11 Basis Point Share (BPS) Analysis by Applications
11.12 Absolute $ Opportunity Assessment by Applications
11.13 Market Attractiveness Analysis by Applications
Chapter 12 Latin America Analysis and Forecast
12.1 Introduction
12.2 Latin America Market Size Forecast by Country
12.2.1 Brazil
12.2.2 Mexico
12.2.3 Rest of Latin America (LATAM)
12.3 Basis Point Share (BPS) Analysis by Country
12.4 Absolute $ Opportunity Assessment by Country
12.5 Market Attractiveness Analysis by Country
12.6 Latin America Market Size Forecast by Type
12.6.1 Voltage Source Inverter (VSI)
12.6.2 Current Source Inverter (CSI)
12.7 Basis Point Share (BPS) Analysis by Type
12.8 Absolute $ Opportunity Assessment by Type
12.9 Market Attractiveness Analysis by Type
12.10 Latin America Market Size Forecast by Applications
12.10.1 Pulp & Paper
12.10.2 Metals
12.10.3 Mining
12.10.4 Chemical
12.10.5 Others
12.11 Basis Point Share (BPS) Analysis by Applications
12.12 Absolute $ Opportunity Assessment by Applications
12.13 Market Attractiveness Analysis by Applications
Chapter 13 Middle East & Africa (MEA) Analysis and Forecast
13.1 Introduction
13.2 Middle East & Africa (MEA) Market Size Forecast by Country
13.2.1 Saudi Arabia
13.2.2 South Africa
13.2.3 UAE
13.2.4 Rest of Middle East & Africa (MEA)
13.3 Basis Point Share (BPS) Analysis by Country
13.4 Absolute $ Opportunity Assessment by Country
13.5 Market Attractiveness Analysis by Country
13.6 Middle East & Africa (MEA) Market Size Forecast by Type
13.6.1 Voltage Source Inverter (VSI)
13.6.2 Current Source Inverter (CSI)
13.7 Basis Point Share (BPS) Analysis by Type
13.8 Absolute $ Opportunity Assessment by Type
13.9 Market Attractiveness Analysis by Type
13.10 Middle East & Africa (MEA) Market Size Forecast by Applications
13.10.1 Pulp & Paper
13.10.2 Metals
13.10.3 Mining
13.10.4 Chemical
13.10.5 Others
13.11 Basis Point Share (BPS) Analysis by Applications
13.12 Absolute $ Opportunity Assessment by Applications
13.13 Market Attractiveness Analysis by Applications
Chapter 14 Competition Landscape
14.1 Low Voltage AC Drive Market: Competitive Dashboard
14.2 Global Low Voltage AC Drive Market: Market Share Analysis, 2019
14.3 Company Profiles (Details – Overview, Financials, Developments, Strategy)
14.3.1 Fuji Electric
14.3.2 ABB
14.3.3 Rockwell Automation
14.3.4 Tmeic
14.3.5 Schneider Electric
